What are "emerging risks"?

Emerging risks refer to new or evolving threats that organizations may face, which are not yet widely recognized or understood. These risks often arise from changes in technology, environmental conditions, societal shifts, or regulatory changes. The definition highlights the uncertainty and potential impact of these risks on various sectors, making them significant for comprehensive risk assessment.

Identifying emerging risks is crucial because they can develop quickly and may not have established strategies for management or mitigation. By understanding these risks early, organizations can better prepare for potential impacts and adjust their risk management practices accordingly. This ongoing awareness allows organizations to adapt to new challenges and safeguard their operations effectively.